An audit by the North Dakota Department of Insurance found that Noridian Mutual Insurance Company, doing business as Blue Cross Blue Shield of North Dakota (BCBS), racked up tens of thousands of dollars in excessive expenses paid with policyholders premiums. …
A.M. Best Co. has affirmed the Best’s Syndicate Rating of ‘A’ (Excellent) and issuer credit rating of “a+” of Lloyd’s Syndicate 2003, which is managed by Catlin Underwriting Agency Limited (CUAL), a member of the Bermuda-based Catlin Group Limited (CGL), …
The Caribbean Catastrophe Risk Insurance Facility (CCRIF) and the Caribbean Disaster Emergency Response Agency (CDERA) have signed a Memorandum of Understanding (MOU) formalizing a partnership to facilitate capacity building and to develop strategies for mitigating the physical and socio-economic impacts …
A.M. Best Co. has affirmed the financial strength rating of ‘A+’ (Superior) and the issuer credit rating of “aa-” of Spain’s Ocaso, S.A. Seguros y Reaseguros, both with stable outlooks. “The ratings reflect the company’s superior risk-based capitalization, excellent operating …
Standard & Poor’s Ratings Services has revised its outlook on Bermuda-based insurance and reinsurance holding company Arch Capital Group Ltd.(ACGL) and its operating subsidiaries to positive from stable. S&P also affirmed our ‘BBB+’ counterparty credit and senior debt ratings on …
A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A’ (Excellent) and issuer credit ratings (ICR) of “a” of Bermuda-based Wind River Reinsurance Company, Ltd. and its U.S. subsidiaries. Best also affirmed the ICR of “bbb” of the …
A.M. Best Co. has affirmed the financial strength rating of ‘B’ (Fair) and issuer credit rating of “bb+” of Nigeria’s Continental Reinsurance Plc, both with stable outlooks. “The ratings reflect Continental Re’s insufficient although improving risk management and insufficient security …
A.M. Best Co. has affirmed the financial strength rating of ‘B++’ (Good) and issuer credit rating (ICR) of “bbb+” of Canada’s Echelon General Insurance Company. Best also affirmed the ICR of “bb+” of Echelon General’s publicly traded parent, EGI Financial …
A.M. Best Co. has affirmed the financial strength ratings (FSR) of ‘A’ (Excellent) and issuer credit ratings (ICR) of “a” of AXA Assurances Inc. Of Montreal, Quebec and its wholly owned subsidiaries, AXA Insurance (Canada), AXA Pacific Insurance Company, AXA …
Risk Management Solutions has completed the expert modeling analysis in connection with the securities offering undertaken by Ibis Re Ltd., a special purpose reinsurance company domiciled in the Cayman Islands. “The securities offering is intended to finance a separate reinsurance …
